Gregg A. Bresner Buys 1,000 Shares of CION Investment Co. (NYSE:CION) Stock

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $10.98 per share, with a total value of $10,980.00. Following the acquisition, the insider now directly owns 62,599 shares of the company’s stock, valued at approximately $687,337.02. This represents a 1.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

CION Investment Price Performance

CION Investment stock opened at $10.93 on Friday. The stock has a market capitalization of $579.32 million, a P/E ratio of 7.43 and a beta of 1.11. CION Investment Co. has a 12-month low of $10.52 and a 12-month high of $12.71. The firm’s 50-day moving average is $11.76 and its two-hundred day moving average is $11.71.

CION Investment (NYSE:CION) last announced its earnings results on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $87.91 million during the quarter, compared to analysts’ expectations of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. As a group, analysts forecast that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.18%. CION Investment’s dividend payout ratio (DPR) is 228.57%.

Institutional Trading of CION Investment

A number of large investors have recently modified their holdings of CION. Invesco Ltd. bought a new position in CION Investment in the 4th quarter valued at about $11,882,000. Wells Fargo & Company MN boosted its holdings in shares of CION Investment by 6,958.9% in the fourth quarter. Wells Fargo & Company MN now owns 722,201 shares of the company’s stock worth $8,233,000 after buying an additional 711,970 shares during the period. Bulldog Investors LLP lifted its position in shares of CION Investment by 62.4% in the fourth quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company’s stock worth $19,190,000 after purchasing an additional 646,596 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of CION Investment in the fourth quarter worth approximately $6,899,000. Finally, CF Capital LLC bought a new position in CION Investment during the fourth quarter valued at approximately $4,809,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company restated an “underweight” rating and issued a $10.00 target price (down previously from $11.00) on shares of CION Investment in a report on Monday.

About CION Investment

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.